According to a report by the Wall Street Journal, activist investor Carl Icahn has increased his stake in Occidental Petroleum Corp to nearly 10% as he scales up his fight to take control over the oil producer. As of the… Read More ›
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Pandemic fears spreads, markets shed $3 trillion
On Thursday, with China’s coronavirus continuing to spread at its fastest pace outside China, shares continued to plunge downward wiping out more than $3 trillion in value in this week alone. U.S. Treasuries yields also hit their record lows on… Read More ›
Tesla extends profit run backed on record deliveries
Tesla has posted its second quarterly profit in a row following a record number of vehicle deliveries; it said it expects to deliver more than 500,000 units in 2020. With the news reaching the market on Wednesday, the electric carmaker’s… Read More ›
International Flavors & Fragrances to merge with DuPont Inc’s nutrition & biosciences business for $26.2 billion
In a statement, International Flavors & Fragrances Inc stated, it will merge with DuPont Inc’s nutrition & bio-sciences unit in a deal worth $26.2 billion. Under terms of the agreement, DuPont’s shareholders will get 55.4% of the shares in the… Read More ›
Saudi Aramco won’t market IPO in U.S.: sources
As per two sources familiar with the matter at hand, Saudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States. Earlier this month, in its IPO prospectus, Aramco had said the offering of… Read More ›
Israel’s sign gas export deal with Egypt
Israel will start exporting gas to Egypt from January 2020. In a regulatory filing in Tel Aviv, Israel’s Delek Drilling stated, shares have been transferred to buyers in a joint venture called EMED between Texas-based Noble Energy and Delek wherein… Read More ›
Bayer proposes to pay $8 billion to settle 18,000 U.S. lawsuits over Monsanto’s Roundup weedkiller
Bayer’s strategic could potentially significantly reduce headwinds revolving around lawsuits stemming from Monsanto’s glyphosate-based weedkiller – Roundup. On Friday, shares of Bayer surged by 11% following a report from Bloomberg that it has proposed to pay $8 billion in order… Read More ›
Jezz Bezoz sells 990 million Amazon.com Inc’s shares, makes $2.8 billion
Jeff Bezoz had earlier stated, he would be selling stock every year to fund Blue Origin. As of last Friday, Amazon.com Inc’s Chief Executive Officer Jeff Bezos has sold $990 million worth of shares in the company and made a… Read More ›
HSBC second quarter profits rise by 15.9%, announce share buyback of $1 billion
While analysts’ had expected it would return some of its profits through dividends, HSBC has stuck to its strategy of share buyback. On Monday, HSBC reported its second quarter results. Its first-half pretax profits have risen by 15.9%. HSBC has… Read More ›
Beyond Meat manufacturing facilities stretched due to heightened demand
With a phenomenal surge in demand for Beyond Meat’s products, the company has had to revise its full year profit earnings. Although Beyond Meat Inc’s shares have slipped just three months after its IPO, demand for its plant-based burgers and… Read More ›
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